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USDKRW has opened weaker again today.....>

KOREAN WON
KOREAN WON: USDKRW has opened weaker again today last trading at 1118.6, just
ahead of the Nov 8 lows, but below uptrend support (now resistance) from the Sep
28 lows. 
- Expectations of a hike by the BOK at the top of the hour, and the continued
weakness in dollar and recovery in global risk appetite, have provided a
positive backdrop for the won.
- Industrial production beat expectations in October, coming in at 10.7% y/y vs
6.9% exp. although the m/m figure came in broadly in line.
- We expect a 'dovish hike' as the BOK looks to take advantage of the recent
financial market calm to hike rates, but strikes a cautious tone regarding the
pace of further hikes amid ongoing external risks. 

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